Fraud prevention

I. Fraud detection and prevention solutions

The moment any device attempts to connect to our site or app, we’ll be able to spot user behaviours and device information that leads to fraud, and stop that fraud attempt in real time. Therefore, we track devices, analyses and adds evidence to make this fraud detection and prevention intelligence even more powerful and effective.

II. Account Takeover

Deliver risk-appropriate authentication, authorization, and fraud controls no matter how or when a customer is interacting with us.

Unauthorized access of a legitimate customer’s account to obtain products or services is called account takeover fraud (ATO). Account takeover fraud prevention is a rapidly-growing challenge among industries like online banking, credit issuance, e-commerce, telecommunications, and insurance.

2.1. Prevent account takeover fraud at every touchpoint

We implemented rules that allow us to review every step of a customer’s journey to avoid account takeover fraud. If a customer is logging in from an authorized device for a activity, they’ll be authenticated immediately as a trusted connection. We have a strong mobile multifactor authentication and authorization solutions built right into our app.

2.2. Authentication made simple, strong and safe

Identify both authorized and devices using our proprietary device recognition database. It integrates right into our current authentication framework and offers an extra layer of account takeover fraud protection. Improve the authentication experience further by eliminating passwords altogether; once a device is authorized to an account, authentication is virtually immediate and is upped to a higher level only when the risk level warrants it.

2.3. Safeguard your contact center

Fraudsters are increasingly targeting contact centers, gathering data about customers and then combining high-pressure tactics with spoofing technology to socially engineer agents to take over customers’ accounts or perpetrate SIM swapping. With mobile multifactor authentication we can strengthen security both online and offline, without slowing down service. Empower agents to quickly validate callers’ devices before providing service to prevent account takeover fraud without slowing down good customers.

III. Application Fraud

Creating fraudulent accounts using someone else’s personal information (stolen identity) or fake information (synthetic identity) is a common tactic. Our intelligence database of known devices and their reputations contains records of confirmed fraud from businesses. Our authentication and fraud prevention solutions use that data to immediately identify and shut out fraudsters before they can create a false new accounts.

3.1. Grow our base of trusted connections

It’s important to catch new account fraud, but it’s also critical that no barriers are put in place that will frustrate legitimate customers wanting to create new accounts. It’s a fine balance. We use a combination of rules-based and machine learning solutions, and we gain the benefits of each approach in quickly and accurately eliminating application fraud. Accept trusted new connections with confidence and provide them with a premium authentication experience, while we keep out fraudsters.

3.2. Treat new customers like VIPs

Our solutions don’t stop at locating and blocking the bad guys. The combination of our network of collective data intelligence, our device reputation platform and our machine learning solutions gives you confidence that each new account can be trusted. Knowing that, we can reward new customers with offers and promotions that otherwise might be held back for fear of fraud and abuse.

IV. Bonus Abuse

We offer bonuses to attract and retain VIP players, yet these incentives also attract fraudsters.

We keep out devices that have been reported for specific types of abuse, fraud or cheating.

We monitor transactions for abnormal device and account velocities. For example, if we have a single device that has set up 100 new accounts in an hour, that’s not a normal consumer behaviour and requires investigation.

V. Credit Card Fraud

Credit card fraud impacts businesses on a number of fronts; not only losing revenue, but there’s also the cost of fraud and potential chargebacks. Businesses are met with the challenge of reducing credit card fraud without hitting customers with increased false declines, reviews and unnecessary step-ups.

We keep out devices that have been reported for credit card fraud.

We monitor transactions for risk indicators such as devices that have been jailbroken or rooted, the use of anonymizing proxies or geolocation mismatches that could indicate fraud.

VI. Mobile Fraud

Mobile devices have rapidly evolved over the past several years. From this small, handheld device, our customers can request a ride, conduct a video conference, apply for a loan or transfer money. 

As more online business is conducted via mobile, fraudsters are increasingly targeting mobile transactions.

We detect mobile emulators. Emulators are virtualization tools that run on desktop computers. While emulators may have some legitimate purposes, such as testing out new technologies, emulators being used for banking transactions or insurance applications are suspicious, especially in combination with other risk factors. Developing and continuously enhancing our mobile emulator detection keeps fraud teams one step ahead of cybercriminals.